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Rhode Island commits $30m to Lone Star fund

by Zoe Loza

The Rhode Island State Investment Commission committed $30 million to Lone Star Real Estate Fund IV, a real estate debt fund managed by Lone Star Funds, during its March 25 meeting.

The investment commission manages the $8.5 billion Rhode Island Employees’ Retirement System.

Lone Star Real Estate Fund IV launched this year with a $5 billion target.

A recent investor is the $44.7 billion Teachers’ Retirement System of Illinois, which invested $300 millionin the Lone Star mega-fund.

ERSRI had $254.7 million in real estate assets as of December 2014. The retirement system has a target real estate alloca

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